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Silversea Successfully Prices Notes Offering

April 18, 2018 Cruise No Comments Email Email

Luxury cruise operator Silversea Cruise Holding Ltd. (the “Company”) has announced that Silversea Cruise Finance Ltd., a wholly owned subsidiary of the Company, has successfully priced its offering of $70 million aggregate principal amount of 7.250% Senior Secured Notes due 2025 (the ” Notes”). The Notes, priced at 104.500% of face amount plus accrued and unpaid interest from February 1, 2018, are being offered as additional notes under an indenture dated January 30, 2017.

“Our offering has been received with great enthusiasm by investors, which underpins the growing attraction of the luxury travel market,” said Manfredi Lefebvre d’Ovidio, Chairman of Silversea Cruises.

The Notes were rated BB- by Standard & Poor’s and B2 by Moody’s. The proceeds of the offering will be used to fund future capital expenditure on the Company’s current fleet and for general corporate purposes.

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